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Equal to the nominal or face value of a security. A bond selling at par is worth an amount equivalent to its original issue value or its value upon redemption at maturity-typically $1000/bond. See: Discount, premium.


1. Of equal value. The word is often used in relation to pegged currencies; that is, if one currency pegs itself to another at par, it means that the central bank has declared that the currencies are of equal value.

2. The full price of a bond. This is usually, but not always, $1,000 per bond. Coupon payments are calculated as a percentage of par. Likewise, bonds are often traded as a percentage of par. For example, one may buy a bond at 95% of par, meaning that the investor pays $950. It is also called face value.



See par value.
References in periodicals archive ?
We are very proud that the Postal Service has partnered with Siemens again to continue the USPS leadership in mail processing technology implementation," said Gert Seidel, Siemens' Vice President leading the PARS effort.
Vanier tied it again with a par at the 16th, as Hogarth's long par effort stopped two inches short of the hole.
At left, tournament host Woods waits on the 18th green to make a par putt that would leave him 69 for the day and 268 for four rounds, second to Love in the 12-man invitational event held at Sherwood for the first time.
2, losing five shots to par in a six-hole stretch before steadying himself with 10 consecutive pars and a 75.
Break par of 54 on this layout - consisting of holes from 18 area public courses - and consider your game in good shape.
While he worked to save par, Faldo drained a 20-footer for birdie.

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